Do I have to show proof of funds for a house purchased 10 years ago?

If I purchased my house 10 years ago and want to get a mortgage loan and use it for EB-5 investment, do I have to prove how I purchased the house 10 years ago? I have received different answers on this question. What law or USCIS policy addresses this question?

As per a recent USCIS statement, it will look at the source of funds for purchase of the real estate if it is used as the source of the EB-5 investment. You should be able to produce some evidence as to the original purchase of the real estate and/or otherwise document through declaration. Please consult an experienced EB-5 attorney to discuss the specific facts of your case and guide you in connection with authentication of the source of funds in your specific situation.

Most likely, you will have to show at least some evidence as to how you lawfully earned the money to purchase the house in the first place. The types of documents available from 10 years or more ago are limited, and the USCIS is aware of that. At least a declaration and some other evidence, whether it is a letter from a previous employer or bank statements or other documents to show the level of salary and duration of employment, should be provided. If you retain an experienced EB-5 immigration attorney you would be able to receive more detailed information about how best to address this issue. The EB-5 regulations at 8 CFR 204.6 are very general and do not address this issue in any detail, nor do the four EB-5 precedent decisions from 1998, nor does the EB-5 policy memo of May 30, 2013. This policy is clear, however, from the many USCIS requests for additional evidence in similar cases.

The more information you can show on where your funds came from, such as contract of sale when you purchased 10 years ago, the more smoothly the source of funds submittal will be and the less likely you will be to get a request for more information.

I would recommend that you show generally how you purchased the house, but each case is unique. This is especially true for source of funds. We have experience with authentication of sources of funds based on mortgages, employment, stock ownership, etc.

John J Downey

Immigration Attorney

Answered onDecember 16, 2014

If you can show the source of funds for the purchase do so. It will prevent any questions from an adjudicator.

According to USCIS internal training materials, a house purchased more than five years ago generally no longer needs to show the origin of purchasing funds. However, this is subject to change, as it is neither in the statutes nor federal regulations. For now, it is the prevailing position.

The simple answer is YES, particularly as you will be mortgaging that property to procure the funds to invest. In the past, if the level of the annual income that an investor is substantial and if we documented that income with at least five years of tax return, which is more than the required three years, we did not have to go back so far. However, in the Stakeholders'' meeting at the USCIS recently, the chief of the adjudication division of EB-5 stated that they will be looking at the source of funds for the purchase of a real estate if that property is being used as a basis for the EB-5 investment.

When filing an EB-5 petition where the source of funds comes from a home purchase 10 years ago, if you do not provide any support for a home purchase, you will almost certainly receive an RFE. The reason you have not received a clear answer on this is because the answer is not that clear. The longer back you go, the less documentation USCIS expects to see, but you should provide some explanation and any available documentation of how you purchased the home.

Add your comment

Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment.